The Ministry of Commerce and Industry has approved the establishment of «Bedaya Home Finance» as a closed joint-stock company with a capital of 900 million riyals, divided into 90 million shares at a price of 10 riyals per share.

The company’s purpose will be to engage in real estate financing in accordance with the approval of the Saudi Arabian Monetary Authority (SAMA), and it will be headquartered in Riyadh.

The Public Investment Fund is the company’s largest shareholder, holding 22.2% of the capital, followed by the Islamic Corporation for the Development of the Private Sector with 20%. «Bedaya» is a company specializing in real estate financing in the Kingdom, and its goal is to increase access to financing for middle-income homebuyers throughout the Kingdom. The company will use Sharia-compliant financing contracts such as ijara, degressive musharaka, and hybrid structures designed to comply with local regulations.